Guideline Value for SREE SIVA SAKTHI NAGAR

Sree Siva Sakthi Nagar guideline value

The current guideline value of Sree Siva Sakthi Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Ninna Karai village and falls under the Chengleput Joint II SRO, classified as Residential Class I Type - III.

How the guideline value of Sree Siva Sakthi Nagar has changed

The guideline value for Sree Siva Sakthi Nagar has seen several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 600 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the value at Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ninna Karai

Ninna Karai has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Sree Siva Sakthi Nagar's 2024 figure below the median.

• Sree Sathyasai Nagar Extention: Rs 660 per sq.ft (2024)
• Sree Sai Sakthi Nagar: Rs 1,100 per sq.ft (2024)
• Sree Meenakchi Avenue: Rs 1,100 per sq.ft (2024)
• Sree Arunachala Nagar: Rs 1,650 per sq.ft (2024)
• South Ganapathy Nagar (Pa): Rs 660 per sq.ft (2024)
• Sri Balaji Nagar Extension: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Sree Siva Sakthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Sree Siva Sakthi Nagar?

Sree Siva Sakthi Nagar is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Ninna Karai

The guideline value is a crucial factor in property transactions in Ninna Karai, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sree Siva Sakthi Nagar?

The current guideline value of Sree Siva Sakthi Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Sree Siva Sakthi Nagar?

Sree Siva Sakthi Nagar is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for Sree Siva Sakthi Nagar?

The Sub Registrar Office covering Sree Siva Sakthi Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 59,400.